- quote -

Yes.

- quote -

No.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

<revheck[at]linuxwaves.com> wrote:

- quote -

Nor would it since that party (your mortgagee) didn't pay
them.

- quote -

Yup. Regulation 8976897696349876245-2893746(a) says one
cryptic line is enough. Seriously, that's the only
documentation of payment that exists or is required.

Actually, no one but the taxpayer reports real estate taxes
paid to the IRS. Since yours are being paid through an
impound, the amount paid by the lender will be on your 1098,
but that's not necessarily all deductible property tax.
Often those bills include nondeductible items like water and
sewer.

Your lender statements and closing statement show how much
you paid. Your property tax bill shows how much of that is
deductible.

--
Phil Marti
Clarksburg, MD

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >

My wife and I bought a home this year. When we closed on
the house, we reimbursed the owner for the remaining
(pro-rated) 2nd quarter property taxes he had already paid.

Our bank has subsequently paid our 3rd and 4th quarter 2005
property taxes for us through escrow, but the running total
on our statements does not include the initial pro-rated
property taxes we paid at closing.

In fact, other than one cryptic line on our settlement
statement, I have no record that we paid most of the 2nd
quarter real estate taxes. Is this sufficient documentation
for IRS purposes that we paid these property taxes?

Or is the our bank (or someone else) supposed to report the
amount of property taxes paid at closing?

Thanks

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== >